Un-beer-lievable: SEQ costlier than Melbourne for housing, food, grog

Mortgage repayments are costing $53,407 on average in Brisbane and $66,416 on the Gold Coast. Picture: AAP Image/Glenn Hunt

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South East Queenslanders are forking out up to $20,000 more than Melburnians to pay for essentials like rent, groceries, and even beer.

Exclusive research by Canstar shows SEQ homeowners are paying nearly $17,000 more a year for living costs than their Melbourne counterparts, while for tenants, the difference was almost $20,000.

The Canstar analysis looked at median house and rent prices along with annual costs such as groceries, insurance, petrol, electricity, beer, coffee and takeaway.

The results showed Gold Coast tenants were paying $75,394 on average a year in basic living costs, making the region more expensive than any Australian capital city.

In Brisbane, tenants were spending $59,230 a year.

That figure was $55,951 in Melbourne, $55,287 in Adelaide and $50,860 in Adelaide.

Sydney was more expensive than Brisbane at $65,612 a year, but still $9,782 more affordable than the Gold Coast.

For mortgage holders, Sydney was the most expensive capital city at $105,282 on average for annual living costs, with Brisbane coming in second at $79,460.

The Gold Coast trumped Brisbane once again, with the average cost of living for a homeowner sitting at $92,574 a year.

Melbourne was more affordable at $75,156, as was Adelaide ($71,509), Perth ($70,312) and Hobart ($60,502).

It cost about $59,230 a year to live in Brisbane as a tenant and $79,460 as a homeowner.

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Canstar director of research, Sally Tindall said despite the rising cost of key essentials in SEQ, this bustling corner of Queensland was fast becoming one of the most sought after regions in the country.

“Extreme weather events have likely played a leading role in soaring costs of expenses such as home and contents insurance in South East Queensland, while the migration of sun seekers from across the country looking for a less-stressful life has helped push up demand in both the rental and property buying markets, sending prices north,” she said.

Shockingly, the Canstar analysis revealed beer was more expensive in Brisbane and on the Gold Coast than in Melbourne, with South East Queenslanders having to spend about $911 a year for an average supply compared to $851 for Melburnians.

The yearly cost of groceries was more expensive in Brisbane and on the Gold Coast than all the other capital cities, and SEQ was paying more for coffee than Melbourne.

Ms Tindall said while people often thought of big retailers such as Woolworths and Coles as one supermarket, prices were not the same across the country.

“What many customers might not realise is that prices can and do vary from region to region, particularly when distance, logistics and operating costs come into play, but also between the big cities when customer demand and competition is factored in,” she said.

Brisbane may be home to the Castlemaine Perkins XXXX Brewery but beer is more expensive in the river city than in Melbourne. Picture: Richard Walker

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Brisbane and Gold Coast residents were also paying more for electricity, water, petrol and contents insurance than their Sydney and Melbourne counterpart.

However, it was the cost of rent and mortgage repayments that were pushing the limits of SEQ household budgets.

The average yearly cost to service a mortgage was $53,407 in Brisbane and $66,416 on the Gold Coast, compared to $50,556 in Melbourne.

The median annual rent was $35,509 in Brisbane and a whopping $51,569 on the Gold Coast.

In Melbourne the median annual rent was $33,006 while the figure was $42,288 in Sydney.

Gold Coast property manager Jessica Melling, of Harcourts Property Hub, said many Gold Coast tenants were opting to downsize or share house so they could continue to enjoy the local lifestyle and afford other rising costs.

“On our applications, our tenants give us notes on why they want to move, and reducing the cost of living has been one of the most common comments we’ve seen,” she said.

“We’re seeing families who were paying $1300 a week for a four-bedroom house applying for townhouses in that $900 range.”

Ms Melling said there was also a marked increase in the number of people choosing to share house to reduce rental costs.

“We’re getting a lot more share housing applications with younger couples going in three or four on a lease,” she said.

“We’ve also had a few single mums with one or two children each applying to rent together, which brings their budget back to what it would be for a dual-income family.”

Canstar director of research, Sally Tindall. Picture: supplied. N

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Ms Tindall said some of the sharpest, rapid-fire rate rises in Australia’s history across 2022 and 2023 coupled with sky-high inflation greatly contributed to the rising cost of living throughout the country.

“Yet, the vast majority of Australian households have been, by and large, astoundingly resilient in the face of this double-whammy hit on living costs,” she said.

“That said, even in a rate-cutting cycle now, and while inflation might be coming down, it doesn’t mean the cost of most goods and services are now getting cheaper – it just means they’re not rising by as much.

“If you’re one financial hiccup away from breaking your budget, take action now before the dam wall breaks.”

Ms Tindall said while many were concerned about the impact of Trump tariffs on cost of living, she cautioned against panicking.

“It’s still way too early to tell what the net impact all of this will have here in Australia,” she said.

“If the central bank can’t definitively say what impact the Trump tariff war will have on the cost of living in Australia, then it’s probably wise to take a leaf out of its book and adopt a wait-and-see approach.”

The Gold Coast has some of the highest cost of living in Australia.

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(SOURCE: Canstar.com.au)